Carl Icahn Offers to Acquire Pep Boys (PBY) for $15.50/Share
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December 8, 2015 8:31 AM EST
The Pep Boys Manny, Moe & Jack (NYSE: PBY) announced that its Board of Directors, after consultation with its independent legal and financial advisors, has determined that the proposal from Icahn Enterprises L.P. to acquire Pep Boys for $15.50 per share in cash (as set forth in the Company's filing with the Securities and Exchange Commission, dated December 7, 2015) would reasonably be expected to result in a "Superior Proposal" as defined in the Company's agreement and plan of merger with Bridgestone Retail Operations, LLC.
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December 7, 2015 4:31 PM EST
Pep Boys (NYSE: PBY) reported Q3 EPS of $0.02, $0.04 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $508.1 million versus the consensus estimate of $515.1 million.
Comparable sales decreased 1.8%, consisting of a decrease of 2.5% in comparable service revenue and a decrease of 1.6%... More
December 7, 2015 8:33 AM EST
The Pep Boys Manny, Moe & Jack (NYSE: PBY), the nations leading automotive aftermarket service and retail chain, today confirmed that on December 4, 2015, it received notice that Carl C. Icahn and affiliated entities (Icahn) filed a Schedule 13D, on December 4, 2015, disclosing its beneficial ownership of approximately 12% of Pep Boys Common Stock. The Schedule 13D also disclosed that Icahn had engaged in prior discussions with the Company regarding Icahns interest in Pep Boys and, in particular, its retail business.
As previously announced on October 26, 2015, following a thorough review of strategic alternatives to enhance... More
December 7, 2015 8:16 AM EST
In a 13D filing on Pep Boys (NYSE: PBY) Friday after the market close, hedge fund Carl Icahn disclosed a 12.12%, or 6,558,083 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending September 30, 2015.
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